May Day Retail Sales in Shanghai Up 10.7%
Shiena Iane Bernardino | | May 05, 2014 04:19 AM EDT |
The recently concluded three-day Labor Day holiday generated a 10.7 percent rise in retail sales compared to the figures last year and higher from the 5.5 percent sales rise during the Spring Festival, Shanghai Commission of Commerce reported.
The good weather and the aggressive marketing efforts made by the retailers contributed to the great sales performance during the holidays, the commission said.
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Based on the reports, customers had spent around 3.29 billion yuan, or US$534.9 Million, all throughout the holidays. A number of shopping establishments worked with online shoppers to aid in promoting their products.
In addition, shop owners and retailers used the latest technologies in marketing tools such as the QR code, Weibo, as well as online communications tool like WeChat, to forge an interaction with the possible customers.
According to Chen Yuxian, an official from the Shanghai Commission of Commerce, buyers were enticed to shop using their credit cards because of the rewards offered with each successful purchase.
The sales gathered from the retail buying had peaked during the early hours on May 1, when consumer spending grew 18.2 percent. The sales edged up only around 0.2 percent during the holidays on May 3.
According to reports, the increase in sales was made possible due to the proliferation of more shopping places in Shanghai. One of these is the River Mall, which is a new shopping and entertainment center with four-floors and a former entrance to the site of the World Expo.
The River Mall alone reportedly welcomed 500,000 visitors who spent a total of 12.5 million yuan during the retail sales.
The latest CCTV documentary that featured several traditional snacks in Shanghai also reportedly contributed to the increase in sales of food and food-related products during the Labor Day weekend, increasing the restaurant sales by as high as 20 percent.
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